Climate Risk Information System

Table of Contents☰

About Climate Risk Information System:

It will bridge the gap in climate-related data that is currently available in a fragmented manner.
Presently the available climate related data is characterised by various gaps such as fragmented and varied sources, differing formats, frequencies and units.
It will comprise of two parts

o The first part will be a web-based directory, listing various data sources, (meteorological, geospatial, etc.) which will be publicly accessible in the RBI website.

o The second part will be a data portal comprising datasets (processed data in standardised formats).

The RBI plans a phased launch of RB-CRIS starting with the web-based directory, followed by a gradual introduction of the data portal for regulated entities to ensure smooth adaptation.
It is crucial for regulated entities to undertake climate risk assessments for ensuring stability of their balance sheets and that of the financial system.
On February 28, 2024, RBI had issued draft guidelines for a ‘Disclosure Framework on Climate-Related Financial Risks,’ requiring regulated entities (REs) to disclose information across four key areas: governance, strategy, risk management, and metrics and targets.
The framework aims to inform stakeholders—such as regulators, investors, and customers—about the climate-related risks faced by REs and their strategies for addressing these issues.

Q1: What is Climate change?

It refers to long-term shifts in temperatures and weather patterns. Such shifts can be natural, due to changes in the sun’s activity or large volcanic eruptions.

Source: RBI announces creation of Climate Risk Information System